AXTZ.DE vs. IB1T.DE

Last updated Apr 2, 2026

Compare and contrast key facts about 21Shares Tezos ETP (AXTZ.DE) and iShares Bitcoin ETP (IB1T.DE).

AXTZ.DE and IB1T.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AXTZ.DE is an actively managed fund by 21Shares. It was launched on Nov 13, 2019. IB1T.DE is an actively managed fund by iShares. It was launched on Mar 18, 2025.

Performance

AXTZ.DE vs. IB1T.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in 21Shares Tezos ETP (AXTZ.DE) and iShares Bitcoin ETP (IB1T.DE). The values are adjusted to include any dividend payments, if applicable.

AXTZ.DE vs. IB1T.DE - Yearly Performance Comparison

	2026 (YTD)	2025
AXTZ.DE 21Shares Tezos ETP	-29.34%	-35.84%
IB1T.DE iShares Bitcoin ETP	-20.83%	-15.22%

Returns By Period

In the year-to-date period, AXTZ.DE achieves a -29.34% return, which is significantly lower than IB1T.DE's -20.83% return.

AXTZ.DE

• 1D: 0.68%
• 1M: -7.50%
• YTD: -29.34%
• 6M: -49.16%
• 1Y: -52.33%
• 3Y*: -32.80%
• 5Y*: —
• 10Y*: —

IB1T.DE

• 1D: 1.76%
• 1M: -0.24%
• YTD: -20.83%
• 6M: -40.99%
• 1Y: -24.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AXTZ.DE vs. IB1T.DE - Expense Ratio Comparison

AXTZ.DE has a 2.50% expense ratio, which is higher than IB1T.DE's 0.25% expense ratio.

AXTZ.DE

21Shares Tezos ETP

IB1T.DE

iShares Bitcoin ETP

Return for Risk

AXTZ.DE vs. IB1T.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AXTZ.DE

AXTZ.DE Risk / Return Rank: 2
AXTZ.DE Sharpe Ratio Rank: 3
AXTZ.DE Sortino Ratio Rank: 2
AXTZ.DE Omega Ratio Rank: 2
AXTZ.DE Calmar Ratio Rank: 1
AXTZ.DE Martin Ratio Rank: 2

IB1T.DE

IB1T.DE Risk / Return Rank: 3
IB1T.DE Sharpe Ratio Rank: 3
IB1T.DE Sortino Ratio Rank: 3
IB1T.DE Omega Ratio Rank: 3
IB1T.DE Calmar Ratio Rank: 4
IB1T.DE Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AXTZ.DE vs. IB1T.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Tezos ETP (AXTZ.DE) and iShares Bitcoin ETP (IB1T.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AXTZ.DE	IB1T.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.64	-0.62	-0.03
Sortino ratio Return per unit of downside risk	-0.95	-0.70	-0.25
Omega ratio Gain probability vs. loss probability	0.90	0.92	-0.02
Calmar ratio Return relative to maximum drawdown	-0.77	-0.53	-0.23
Martin ratio Return relative to average drawdown	-1.25	-1.14	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AXTZ.DE vs. IB1T.DE - Sharpe Ratio Comparison

The current AXTZ.DE Sharpe Ratio is -0.64, which is comparable to the IB1T.DE Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of AXTZ.DE and IB1T.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AXTZ.DE	IB1T.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.64	-0.62	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-0.79	+0.26

Correlation

The correlation between AXTZ.DE and IB1T.DE is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AXTZ.DE vs. IB1T.DE - Dividend Comparison

Neither AXTZ.DE nor IB1T.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

AXTZ.DE vs. IB1T.DE - Drawdown Comparison

The maximum AXTZ.DE drawdown since its inception was -95.65%, which is greater than IB1T.DE's maximum drawdown of -49.39%. Use the drawdown chart below to compare losses from any high point for AXTZ.DE and IB1T.DE.

Drawdown Indicators

	AXTZ.DE	IB1T.DE	Difference
Max Drawdown Largest peak-to-trough decline	-95.65%	-49.39%	-46.26%
Max Drawdown (1Y) Largest decline over 1 year	-67.25%	-49.39%	-17.86%
Current Drawdown Current decline from peak	-95.62%	-44.69%	-50.93%
Average Drawdown Average peak-to-trough decline	-81.98%	-17.25%	-64.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.12%	23.00%	+18.12%

Volatility

AXTZ.DE vs. IB1T.DE - Volatility Comparison

21Shares Tezos ETP (AXTZ.DE) and iShares Bitcoin ETP (IB1T.DE) have volatilities of 12.57% and 13.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXTZ.DE	IB1T.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.57%	13.11%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	44.31%	32.55%	+11.76%
Volatility (1Y) Calculated over the trailing 1-year period	81.18%	40.25%	+40.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.41%	40.76%	+44.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.41%	40.76%	+44.65%